Word: maseratis
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...Maserati's Management...
...article entitled "Maserati Off the Track," published in TIME, April 14, contains statements which are untrue and highly prejudicial to Maserati...
...Maserati is an industrial concern of Modena, Italy, which has established an outstanding reputation as a manufacturer of precision tools and automobiles. Your statements that Maserati President Adolfo Orsi owed Credito Italiano, an Italian bank, $15,600, that he wrote a check with no funds to cover it and that the bank asked that he be declared bankrupt are untrue. So is your statement that Credito Italiano "sent the shamed Orsis into hiding"; we have been for many years and still are openly and actively engaged in the management of Maserati. No bankruptcy petition was ever instituted against Maserati...
Argentine Dictator Juan Peron, a racing bug and sponsor of Driver Fangio, got so enthusiastic about Maserati racers in 1954 that he handed Adolfo Orsi a $3,000,000 machine-tool order to help speed Argentine industrialization. In turn, Adolfo enthusiastically allowed Peron three years to pay. A year later, when Peron was ousted, Argentina had paid only a fraction of its bill, all in wheat to the Italian government, which has yet to convert it into cash for Maserati. To top it off, Adolfo took on another $437,500 machine-tool order from the Spanish government-which has also...
...save Maserati without wrecking their remaining businesses, which are independently solvent (annual sales: $2,000,000), the Orsis offered Driver Fangio a 50% share in Maserati for $625,000. Fangio, who has a thriving G.M. distributorship in Buenos Aires, could raise only half the necessary funds. That left Maserati at the mercy of the state-owned Credito Italiano, which had the right to turn the firm over to the government. Last week the plant was still running-but for the government and without the Orsis...